• Portfolio Company News

Singapore’s Reebonz and Vietnam’s VC Corp raise US$17M from Intel Capital

Singapore’s Reebonz, a startup that does online sales of luxury goods across Asia, and Vietnam’s VC Corp, an Internet content company, has raised a combined US$17M from Intel Capital. The exact figures of both investments were not revealed.

“Reebonz and VC Corp are examples of companies that are successful in getting Southeast Asians online because they provide engaging experiences tailored towards the needs and cultural preferences of consumers in the region,” said Arvind Sodhani, president of Intel Capital.

Gregory Bryant, vice-president and general manager of Intel Asia-Pacific, said: “We’re seeing strong demand for e-commerce and cloud-based services across the region and these investments will help to accelerate that trend.”

The announcement was made at the World Economic Forum East Asia in Bangkok on 31st May. This brings Intel Capital’s total investment in Southeast Asia to more than US$95M, involving more than a dozen technology companies in the region since 1999.

Last year, it invested millions in Series A funding in Animoca, a Hong Kong based games developer and Neoteny Labs portfolio company.

Worldwide, Intel Capital has funded more than 1,200 companies in 51 countries, investing a total of US$10.6B. Its operations span the globe, 51 percent of its US$526M spending in 2011 funding companies outside of the US and Canada.

June 5, 2012 at 1:14 pm by Terence Lee

(Tech in Asia)